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Silver Prices Today, Live Spot Prices & Historical Charts
Silver Prices Today
|Silver Spot Price||Spot Change|
|Silver Price per Ounce||$15.57||0.32|
|Silver Price per Gram||$0.50||0.01|
|Silver Price per Kilo||$500.59||10.29||
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Money Metals Exchange’s interactive silver chart allows you to check the price of silver today or historical silver prices dating back 20 years. Hover over the chart to see the spot price for that particular day.
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Discover the Basic Truth about Silver Prices
It is easy to understand the universal appeal of silver. Beginner and expert investors around the world choose silver more than any other precious metal. The price of silver per ounce is lower than gold, making it accessible for beginners with a limited budget.
Experienced investors recognize silver has value as both an investment and monetary metal. Diverse holdings are a key to financial success. Discover the basic truth about silver prices and what makes silver such an alluring investment opportunity.
What Is Silver?
A form of nuclear fusion produces silver. A supernova explosion is a key factor in the existence of this precious metal. Silver is slightly less malleable than gold. It has an appealing metallic luster that takes a high degree of polish.
Silver has a high degree of electrical conductivity, but copper is used more for electrical purposes because it costs less. Silver reflects almost all light and is the world’s best natural biocide, killing over 400 bacteria and viruses.
Silver is a savvy investment because it is used for countless purposes, including dentistry, medicine, windows, coins, Bullion, jewelry, silverware, air conditioning and many more. The unique properties of silver make it an essential and timeless commodity in many industries.
What is Ag on the Periodic Table?
The symbol Ag on the periodic table stands for silver. Silver’s atomic number is 47. Its density is 10.5 g/cm3, making silver denser than copper and most base metals but not as dense as platinum or gold.
Silver’s low cost compared to platinum and gold along with its unique metallic properties make it indispensable in a variety of industrial applications. Silver can attain a higher polish than any other metal. No other metal possesses as much reflectivity or electrical or thermal conductivity as silver. That’s why silver is essential for the high-tech industry. Silver also finds use in the medical applications as a biocide.
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Silver Yesterday and Today
It is estimated silver coins could be the oldest mass-produced form of coinage. Since the time of the Greeks, people have used silver coins. Ancient Persian coins date back to between 612-330 BC.
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Collectible coins range in value, based on the demand, condition, and rarity. Silver coins have been used as currency around the world. Silver bullion coins and bars, as well as silver paper, are a solid investment, regardless of inflation.
The value of money fluctuates based on each government. Silver is an international way to store value. Any investment conversation will usually focus on the unpredictability of currency and stocks. For this reason, people continue to invest in precious metals such as silver and gold products, as well as platinum and palladium.
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Beyond the Silver Standard
Decades ago, the silver standard came to an end in developed countries, which means silver was no longer considered legal tender. Some countries, including the USA, continue to mint bullion and collectible coins.
An example is the American Silver Eagle, which has a nominal face value. The Canadian Silver Maple Leaf coins are legal tender valued at about USD $5 per ounce. Privately minted coins are referred to as silver rounds, which are not legal tender.
However, hard money enthusiasts may use them as investment vehicle. Most have commemorative designs and have a weight of 1 troy ounce of silver.
The current demand for silver is for industrial applications and investment purposes, including bullion coins and exchange traded products. There continues to be a strong market for silver around the world, as evidenced by the averages and NYSE.
Get to Know the Spot Price of Silver
When investors check the NASDAQ live feed in the morning or go online to visit a website to find out the current value of silver, the spot price is what matters. This refers to the price silver can be exchanged and delivered right now.
It is the current trading value of silver and other precious metals, as well as certain other commodities. Whether an investor is buying, trading, or selling silver, it is important to verify the spot price. COMEX is reliable source to access indices for the price of silver, as the prices today will not be the same as yesterday, an hour ago, or in the future.
Smart investors check the chart for current rates right before they buy precious metals. They also verify the reliability of the resources they use, rather than relying on a comment published by a writer who might not be aware of the spot price of silver today.
From am to pm, the latest daily charts are important to make smart purchases from dealers who reply instantly. A skilled investor gets to know the markets, including real-time ratio on prices for gold, silver and oil, and has a calculator handy at all times. There are also online precious metal calculators to verify an amount quoted to try to avoid a significant loss before signing any contracts.
How is the Silver Spot Price Determined?
Traders determine silver and gold spot prices on futures exchanges. Metals contracts can change hands in London and Shanghai when U.S. markets are closed. But the largest and most influential market for metals prices is the U.S. COMEX exchange. The quote for immediate settlement at any given time is effectively the spot price.
Spot (paper) prices can sometimes diverge from real-world pricing in the markets for physical precious metals. For example, during periods of extreme stress in markets it may be impossible to obtain physical metal anywhere near the quoted spot price. Premiums on retail bullion products may surge as a consequence. When the physical market diverges from the paper market, wholesale over the counter prices may be more realistic than spot prices.
Why Can’t I Buy Silver at the Spot Price?
Retail bullion products including bars, rounds, and coins carry small premiums over spot prices. The premium includes minting costs plus the dealer’s profit. The premium also incorporates any wholesale premiums the dealer must pay to acquire the inventory.
Why Do I Have to Pay a Premium for Silver Coins?
Premiums vary according to market conditions. When demand is soft, premiums may fall, especially on secondary market products such as pre-1965 U.S. silver coins. Secondary market products – items that are being resold rather than sold for the first time as brand new – can often be purchased at a discount to newly minted products and very close to actual spot prices.
Why are Silver Premiums so High?
Premiums represent a combination of factors. For newly minted coins, rounds, and bars, the cost of manufacturing is a major factor. Mints and refiners set manufacturing charges based on the cost of labor and equipment, not on the spot price for the metal. These costs do not follow the silver price downward – or upward for that matter.
Another factor in premiums is demand. And demand for physical silver is setting records – the opposite of what is happening in the markets for paper silver. Dealers are bidding aggressively for physical inventory, putting upward pressure on premiums.
This dynamic is compounded by short supply when it comes to bullion products such as pre-1965 U.S. silver dimes, quarters, and half dollars. Mints and refiners aren’t producing any more.
Both the bid and the ask premiums for the pre-1965 coins are significantly higher than in 2020 – the last time silver traded below $20/oz. The difference is in investor perceptions.
In 2020, silver was nearing recent highs and more people were willing to sell. Currently, silver spot prices are less than half the 2020 highs and virtually everyone who owns pre-1965 coins is holding out for a recovery.
Just make sure your dealer is pricing competitively and pay attention to the premiums being offered should you wish to sell. Beyond that, higher silver premiums signal the existence of a strong market for physical, coins, rounds, and bars, and that’s good news for investors.
Silver Investment Vehicles
Silver bullion is available in bars, rounds, and coins in various sizes that are purchased by gram or ounce. There are many different ways to buy silver.
Silver certificates are referred to as paper silver, and are one way to invest in this precious metal. Exchange-traded products and silver certificates are typically easier to store. In the past, U.S. dollars have been issued as silver certificates. However, since 1965, they can no longer be redeemed for physical silver.
Silver can also be a purchased in your IRA through a precious metal custodian. This is another way of contributing a dollar amount to this account to meet a certain required maximum for the year.
Silver Bullion Bars
Bullion bars, especially large ones, can be stored in a safe, at a bank, at home or you can leave them with a dealer or bank for storage. Sizes range from 1 oz troy bars to 10 ounces, as well as 100 oz bars, 1 kilo bars, and 1000 oz troy bars that weigh about 68.6 pounds.
There are fine silver and so-called “junk silver” coins. Junk silver is another phrase to describe pre-1965 dimes, quarters, and half dollars – the older circulating U.S. coins that contain 90 percent silver. They weigh 24.71 grams of per dollar of face value, with 22.239 g of that weight being actual silver (the rest is copper). They don’t have collectible value, but are worth their silver content.
Modern issue silver Eagles as well as Silver Maple Leaf coins are one troy ounce, or 31.1035 g of pure silver.
Silver Futures & Options
Various exchanges worldwide trade derivatives, such as silver futures and options. Often they are traded on COMEX and currencies may vary.
Why Buy Silver? 10 Reasons to Invest in Silver Now (w/ Charts)
Jeff Clark, Senior Analyst, GoldSilver
Is silver a good investment? Why should someone buy it?
It’s natural and even prudent for an investor to wonder if a particular asset is a good investment or not. That’s especially true for silver, since it’s such a small market and doesn’t carry the same gravitas as gold.
But at this point in history, there are compelling reasons to add physical silver to your investment portfolio (and only one is because the price will rise). Here the top 10 reasons why every investor should buy some silver bullion…
#1 Silver is Real Money
Silver may not be part of our currency, but it is still money. In fact, silver, along with gold, is the ultimate form of money, because it can’t be created out of thin air (and thus depreciated) like paper or digital forms. And by real money, we do mean physical silver—not ETFs or certificates or futures contracts. Those are paper investments, which don’t carry the same benefits you’ll find in this report.
Physical silver is a store of value, just like gold. Here’s why.
• No counterparty risk. If you hold physical silver, you don’t need another party to make good on a contract or promise. This is not the case with stocks or bonds or virtually any other investment.
• Never been defaulted on. If you own physical silver, you have no default risk. Not so for almost any other investment you make.
• Long-term use as money. A scan of monetary history shows that silver has been used in coinage more often than gold!
As Mike Maloney says in his best-seller, Guide to Investing in Gold and Silver, “Gold and silver have revalued themselves throughout the centuries and called on fiat paper to account for itself.”
Owning some physical silver provides you with a real asset that has served as money for literally thousands of years.
#2 Physical Silver is a Hard Asset
Of all the investments you own, how many can you hold in your hand?
In a world of paper profits, digital trading, and currency creation, physical silver stands in contrast as one of few assets that you can carry in your pocket anywhere you go, even another country. And it can be as private and confidential as you want. Physical silver is also a tangible hedge against all forms of hacking and cybercrime. There’s no “erasing” a silver Eagle coin, for example, but that can certainly happen to a digital asset:
#3 Silver is Cheap
What if I said you could buy a hard asset at 1/70th the price of gold—and it would protect you just as well against crisis?
That’s what you get with silver! It is much more affordable for the average investor, and yet as a precious metal will help maintain your standard of living as good as gold. If you can’t afford to buy a full ounce of gold, silver can be your ticket to holding some precious metals. This is also true for gift-giving. Don’t want to spend over a $1,000 on a present but would like to give a hard asset? Silver just made it more affordable.
#4 Silver is More Practical For Everyday Small Purchases
Silver isn’t just cheaper to buy, but can be more practical when you need to sell. Maybe someday you don’t want to sell a full ounce of gold to meet a small financial need. Enter silver. Since it frequently comes in smaller denominations than gold, you can sell only what you want or need at the time.
Every investor should have some silver around for this very reason.
Keep in mind that silver coins and bars bullion can be sold virtually anywhere in the world.
#5 Silver Outperforms Gold In Bull Markets
Silver is a very small market—so small, in fact, that a little money moving into or out of the industry can impact the price to a much greater degree than other assets (including gold). This greater volatility means that in bear markets, silver falls more than gold. But in bull markets, silver will soar much further and faster than gold.
Here are couple good examples… check out how much more silver gained than gold in the two biggest precious metals bull markets in the modern era:
Gain from 1970 low to 1980 high
Gain from 2008 low to 2020 high
You might say silver is gold on steroids!
We can expect this outperformance to repeat in the next bull market, too, because the silver industry remains tiny.
#6 Silver Inventories Are Falling
Governments and other institutions have traditionally held inventories of silver. But today, most governments no longer hold stockpiles of the metal. In fact, the only countries that warehouse silver are the US, India, and Mexico.
Look what’s happened to those inventories since 1996.
A big reason governments don’t hold a lot of silver is because coinage is no longer made from the precious metal. But as you’ll see, silver is used in industry to a much greater degree now… so if future industrial needs are difficult to meet, governments will be ill-equipped to support those needs.
#7 Industrial Use is Growing
Believe it or not, you don’t go one day without using a product that contains silver.
It’s used in nearly every major industry, from electronics and medical applications to batteries and solar panels. Silver is everywhere, whether you see it or not. As Mike says in his book, “Of all the elements, silver is the indispensable metal. It is the most electrically conductive, thermally conductive, and reflective. Modern life, as we know it, would not exist without silver.” Due to these rare characteristics, the number of industrial applications for silver has skyrocketed. In fact, industry now gobbles up more than half of all silver demand.
Silver is used in a wide number of industries and products, and many of those uses are growing. Here’s a few examples…
• A cell phone contains about one-third of a gram of silver, and cell phone use continues to climb relentlessly worldwide. Gartner, a leading information technology research and advisory company, estimates a total of 5.75 billion cell phones will be purchased between 2020 and 2020. That means 1.916 billion grams of silver, or 57.49 million ounces, will be needed for this use alone!
• The self-heating windshield in your new Volkswagen will have an ultra-thin invisible layer of silver instead of those tiny wires. They’ll even have filaments at the bottom of the windshield to heat the wipers so they don’t freeze to the glass.
• The Silver Institute estimates that silver use in photovoltaic cells (the main constituents of solar panels) will be a whopping 75% greater in 2020 than it was just 3 years earlier.
• Another common industrial use for silver is as a catalyst for the production of ethylene oxide (an important precursor in the production of plastics and chemicals). The Silver Institute projects that due to growth in this industry, 32% more silver will be needed by 2020 than what was used in 2020.
There are a lot more examples like this, but the bottom line is that due to its unique characteristics, industrial uses for silver continue to expand, which means we can reasonably expect this source of demand to remain robust. But that’s not the whole story… unlike gold, most industrial silver is consumed or destroyed during the fabrication process. It’s just not economic to recover every tiny flake of silver from millions of discarded products. As a result, that silver is gone for good, and limits the amount of supply that can return to the market through recycling.
So not only will the ongoing growth in industrial uses keep silver demand strong, millions of ounces cannot be reused. That might be a problem, because…
#8 Supply is About to Fall
As you might be aware, the silver price crashed after peaking in 2020. Over the next five years it fell a whopping 72.1%. As a result, miners had to scramble to cut costs to turn a profit. One of the areas cut dramatically was exploration and development of new silver mines.
It doesn’t take a rocket scientist to understand that if you spend less time and money looking for silver that you will find less silver. That drought in exploration and development is starting to take effect.
Low prices have affected how much scrap metal is available, too.
All of this is starting to have an impact on total supply.
Silver supply has fallen three consecutive years, the first time since 1991-1993.
As much as two-thirds of silver mine supply comes as a byproduct from base metal operations (copper and zinc, for example). But these other sources of supply will clearly have an impact on the availability of new metal coming to the marketplace. These realities have set the stage for a peak in silver supply. If demand stays at current levels, it will be difficult for everyone who wants silver to get as much as they need. And don’t look now, but…
#9 World Demand is Growing
Global demand for silver is growing. Virtually all major government mints have seen record levels of sales, with most already operating at peak production. Surging demand is nowhere more evident than China and India. These two behemoth markets have long histories of cultural affinity toward precious metals. And with their populations growing (the opposite of what is happening in the West), their tremendous appetite will continue.
Here’s a couple good examples… check out the growth in silver demand in China (for all uses):
And look at the growth of silver jewelry in India:
This kind of demand doesn’t happen in a vacuum. Sooner or later there will be consequences when surging demand meets crimped supply—and those consequences are all positive if you own the metal.
#10 The Gold/Silver Ratio Favors Silver
Last, the gold/silver ratio (the price of gold divided by the price of silver) can give clues about which metal might be the better buy at any given time. Especially when the ratio reaches an extreme…
The gold-to-silver ratio averaged 47:1 during the 20th century. It’s averaged about 61:1 in the 21st century. So a ratio at or above 70 is in outlier territory and thus makes silver a good buy relative to the price of gold. You can see that the ratio sank to almost 30 at the peak of the bull market in 2020. It reached as low as 17 in early 1980. This compression in the ratio shows just how much silver can outperform its cousin gold. It also confirms it is undervalued compared to gold.
• Add all up the reasons and silver just might be the buying opportunity of the decade.
It’s hard to find an asset with a greater distortion between price and fundamentals. Not only is it a good hedge against crisis, the price will be forced up by a perfect storm of fundamental factors.
Price of Silver Today & Historical Silver Price Charts
View the live silver spot price per troy ounce, gram, and kilogram. You can also see the 24-hour price trends for each weight. Below are an interactive silver price chart and additional long term silver price charts.
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Silver Prices Today and What Investors Must Know
On this silver price page, you can find the live silver price, as well as longer-term silver price charts depicting silver price trends over time.
Not only do we provide the live silver spot price, but we also offer a full 24-hour silver price chart to help make faster investment decisions. You can also make use of our interactive silver price chart, as well as view many of the various silver bullion choices we offer for discreet delivery to door.
What are the fundamental reasons for investing in Silver?
The following short video covers the silver supply-demand fundamentals and the most significant reasons millions of investors are buying silver bullion today.
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Current Silver Prices and Historical Silver Prices
Our interactive silver price chart above allows you to view silver prices for a wide range of periods and custom date ranges. We also provide various “quick view” charts that give the price of silver today, within 24 hours, for the past month, the past six months, and for a full year.
We not only offer access to the live silver price today but also historical silver price charts below.
[ 2020 Q2 – Updated Quarterly ]
Daily Silver Price Data 1968 – 2020
Click the year of your choice below for both Daily Silver Price History and Yearly Silver Price Charts throughout this ongoing Fiat Currency Era.
Understanding the Silver Spot Price
Like gold, silver has a spot price. Silver prices change quickly during worldwide trading hours, often from minute to minute and certainly from hour to hour.
Knowing the current silver spot price should help ensure that you’re able to make savvy decisions with your investing, whether you are holding, selling, or buying silver bullion for the long run.
The spot price of silver is the cost of one troy ounce of silver at that particular second. However, the silver spot price is not the actual or exact price of a .999 fine ounce of physical silver bullion. Silver bullion dealers add a slight premium to the spot price to ensure profitability. Our physical silver bullion prices are updated continuously to reflect the current rate of silver on the market, as well as our dealer premium.
The following is a calm market illustration of both typical buy and sell prices for silver bullion concerning the fluctuating silver spot price .
What Affects the Price of Silver?
Like the price of gold, silver prices are affected by a wide range of factors. However, the situation is somewhat different from that of gold. The yellow metal is mostly a monetary and financial tool, whereas silver has a myriad of industrial and commercial uses.
Why Is Silver a Good Investment Choice?
In times past, silver was the de facto currency of the world, even more so than gold. That has changed, and today, silver is an ideal investment option. By following silver prices from day to day, investors can determine whether there is an up or downtrend, and buy or sell appropriately.
[ 2020 Q2 – Updated Quarterly ]
Who buys silver?
Individuals, banks, and significant investment groups are all actively buying silver. However, silver is also purchased for use in the medical industry, in electronics, in aerospace, in the automotive sector, and many more use cases. Of course, there are also private investors keeping a close eye on the silver price per ounce to protect their financial situation, as well.
As an investment, silver is used similarly to gold, as a hedge against the devaluation of fiat currencies. However, other people invest in silver so that if the dollar ever completely crashes, they will have a means of buying goods and services (rather than attempting to barter products, these individuals believe that we’ll be using silver as money).
You’ll find a host of different silver investment options on the market, all of which get tied to the spot silver price. There are silver rounds and bars, as well as silver coins and collectible options (numismatic coins with historical value and scarcity that increase their value substantially over that of silver bullion).
Of course, there are also electronic options (ETFs), as well as silver futures and other choices. However, these are not necessarily ideal investment choices for all comers, as they are not tied as closely to the silver price and are affected by a variety of other market factors.
[ 2020 Q2 – Updated Quarterly ]
Common Questions about the Silver Spot Price and the Price of Silver Today
From where does the silver spot price come? Who sets the silver prices today?
The fluctuating spot price of silver gets mostly set by COMEX headquartered in New York and gets based on the amount of highest traded near-term silver futures contracts. As with the spot price of gold, the spot price of silver is relatively the same around the world, even though it trades in many separate exchanges valued in various other fiat currencies.
Note that the NYMEX in New York mostly sets both platinum prices and palladium prices daily.
The silver spot price market is open almost 24 hours per trading day, with a 60-minute closed period each day between 5:00 EST and 6 PM EST.
The silver price per ounce, therefore, changes almost always, and you must have an up to date silver price chart to compare the current silver price to historic silver prices. This page will provide you with information about the overall trend, whether moving up, down, or staying static.
For what is the silver spot price used?
The spot price for silver is the theoretical cost right now for one troy ounce of .999 fine silver bullion. However, the price can change by the minute, so lower spot prices do not get considered accurate when locking in a trade. It is crucial to know precisely what the silver spot price is at the moment you want to buy or sell silver bullion.
Why should I track live silver prices?
The primary benefit of tracking live silver prices is that it provides you with a baseline on the cost of your silver investment. For instance, by knowing the price of silver per ounce, you can then determine if a particular dealer is charging too high a premium, whether now is the right time for you to buy silver if it would be wise to sell silver you’re holding and more. We use industry-leading technology to ensure that our live silver prices are always up to the second, to empower our customers in their investing needs.
What currency is the spot price of silver given in?
Silver prices quoted here at SD Bullion are always in US dollars. Even if you’re investing in silver in another country, the spot price will be in US dollars and then converted into your local currency. The US dollar is the international standard for gold, silver, and other precious metals, and it allows standardization across all nations. You’ll also find that most silver price charts show the cost of a troy ounce of silver. However, others may show grams or fractional weights. You must make sure that you’re comparing and tracking the same information (ounce to ounce comparisons, rather than an ounce to a gram comparison, for instance). Inaccurate comparisons can lead to mistakes with your investing strategy.
[ 2020 Q2 – Updated Quarterly ]
SILVER vs. FIAT CURRENCY KEY
Silver vs. USD = Silver vs. US dollars, Silver vs. fiat US dollars
Is the silver spot price the same worldwide?
As the spot price for gold and the platinum price, silver prices today are the similar no matter where you might be around the world. However, this only applies to the silver spot price.
Silver bullion dealers tack on a premium to their silver bullion investment offerings, and those premiums can vary significantly from one dealer to another.
Know the current price of silver first, and then you’ll have the foundation to begin comparing silver bullion dealer options.
[ 2020 Q2 – Updated Quarterly ]
Is the spot price of silver what I will pay for an ounce of silver bullion?
No, you will not pay the spot price of silver. Dealers are not even able to purchase silver at the spot price. Therefore, dealers must add a premium to the purchase to ensure profitability. Depending on the dealer and the investment in question, your cost can vary significantly. Without that premium, dealers would not be able to stay in business. However, it is essential to shop smart, as some dealers can charge very high premiums.
Does the spot price of silver apply to collectible coins?
Only marginally. Collectible coins do have some grounding in the price of silver, but that is not the whole story. Rounds and bars get more closely tied to the spot price. Collectible coins have other factors that contribute to their value (or detract from it), including rarity, condition, minting errors, and more. For new investors, it is highly suggested to start with rounds or bars, which are not collectible and are valued only for their content of the precious metal. There are also newer collectible coins, such as the American Silver Eagle and the Canadian Silver Maple Leaf which are less rare, and thus make better choices for new investors more interested in hedging their wealth against devaluation.
Why are there different prices for “bid” and “ask”?
New investors studying silver price charts to determine the current silver price might be curious about the bid and ask prices. The bid price is what the dealer works off of when you’re looking to sell silver to that dealer. The ‘ask price’ is what the bullion dealer works off of when you’re looking to buy silver from that dealer.
The difference between these two prices, called the bid-ask spread, is also essential. The narrower the gap, the more price-competitive the market and the fewer fees are involved (, the less price appreciation required to ‘break even.’ The wider the nid-ask spread gap, the more charges are applied, and the less competitive the specific precious metals product may be.
What are the best options for investors seeking to find a low price of silver per gram?
There are many different options when it comes to investing in silver. If you’re looking for the lowest price of silver per gram, your best option is to go with silver bullion bars.
The larger the silver bullion bar (100 oz) you purchase, the lower your cost per ounce will be.
Kilo silver bars (32.15 troy oz) also offer some of the lowest costs per ounce on the market, but they are so large that they might be out of financial reach for some smaller silver investors.
You can also invest in silver bullion rounds, which look like coins but are not official legal tender in any country. These typically do not carry any numismatic value, so they are tied closely to the price of silver, rather than being inflated by sentiment, rarity, or condition. So long as they contain the specified amount of silver (one troy ounce is the standard), then retail prices should be predictable.
Futures, ETFs and Other Forms of Silver Investment
When analyzing silver investing options, you’ll no doubt come across intangible silver investment options. These include silver futures and ETFs. Silver futures are just contracts that say you’ll by X amount of silver on X day in the future. You can buy futures contracts as an investment option, but this is not best for long term silver bulls. There’s a significant chance that the price of silver will likely change between the time you buy the contract and when you take delivery of the silver.
The industry standard for this type of contract is purchasing 5,000 ounces of silver. The issue is that you pay for your silver at the time of purchase, not the delivery. If the delivery is several months down the road, there’s a chance that the price of silver may drop. The seller of the silver would make a very nice profit, as they do not have to source the metal until it is time to deliver. Even a drop of $2 per ounce can add up to a significant amount of money on a standard contract purchase.
Also, where you actually to take delivery of the silver in the futures contract, you’d incur additional fees. Ultimately, it’s not the right way for new investors or those with limited funds to get into precious metals investing.
ETFs are another option and are mostly pieces of paper or synthetic derivatives attempting to track the silver price with supposed silver bullion backing that is getting stored somewhere else.
While they attempt to track the silver price today and likely to involve some claimed silver backing, you’ll never be able to hold the metal in this instance. ETFs also charge annual fees which eat into investment capital over the years at compounding rates. You can find some popular silver ETF fees here as you learn the best way to buy physical silver.
Silver ETFs trade differently than the actual silver bullion metal on the precious metals market. Our advice is to stick with actual physical silver bullion purchases and study a silver price chart to ensure you’re getting the best deal possible on your investment.
Notice in the chart below how the most popular silver ETF called SLV has its price was diverging from the silver spot price over time. Conversely, during the 2008 financial crisis, 1 oz American Silver Eagle coin premiums spiked to over 80% above the then fluctuating silver spot price.
[ 2020 Q2 – Updated Quarterly ]
[ 2020 Q2 – Updated Quarterly ]
Factors That Affect the Silver Price Today
Like gold, silver prices today are affected by many different factors. These range from the state of the worldwide economy to the demand for silver from various industries. Silver has more factors that affect live silver prices than gold does.
One factor that affects the silver price is production. If the price of silver drops too low, mines can slow down production, causing the price to rise more. However, if demand is high and supply is low, prices could increase as well. Of course, geopolitical instability also plays a role in the silver price per ounce as does the fear of inflation, investor action, government actions, and ongoing industry demand.
Is there too much volatility in the silver market for individual investors?
While the silver market is pretty volatile, knowing the current spot price for silver and tracking historical performance with a silver price chart can help make things considerably more comfortable. It’s also important to note that the silver market is no more volatile than others, including the stock market. Finally, if you are investing in physical silver to hold as a long-term hedge against inflation and devaluation, you should not worry about the risk of short-term fluctuations that create that volatility. In short, you can track the price of silver, and then sell when the time is right without worrying that your investment will lose its value overnight.
Is the silver price dropping?
At one point in 2020, the price of silver per troy ounce approached $50. It has fallen since then and seems to have bottomed in early 2020. While it is not as low as it once was, it has not yet regained the heights it once enjoyed. This is good news, as it not only makes it simpler to make an accurate silver price forecast, but it allows more investors than ever before to take advantage of this valuable precious metal while the price of silver is still low.
Additional Questions and Answers about Silver and the Silver Price Today
Investing in silver is very similar to investing in gold, platinum, and other precious metals, but the fact that this metal gets used in many industries changes things a little bit. To help clarify the situation and make the best possible use of a silver price chart, we must explore additional questions and answers surrounding spot silver prices, how the silver gets sold, used, and more.
Below is a long term full fiat currency era comparing silver fiat US dollar price versus the top 20 countries ranked by GDP silver fiat currency prices. As you can see, since 2020, the fiat US dollar price of silver has underperformed silver’s fiat currency prices in other major foreign markets.
[ 2020 Q2 – Updated Quarterly ]
How does silver price per troy ounce differ from silver price per gram?
Silver gets generally sold in troy ounces, which are different from grams. There are over 31 grams in a single troy ounce so that the silver ounce price will be higher than the silver price per gram. With that said, the price per ounce is generally lower when you purchase more units. For instance, you’ll pay a higher silver price per gram when you buy by the gram than if you purchased a single ounce of silver. Usually, larger volume purchases are the better option, allowing you to maximize your investment dollars.
Why is the price of silver coins higher than the price of silver per ounce?
It’s important to understand several factors involved with silver bullion buying or investing in any precious metal for that matter. The silver spot price is typically not the exact price you will pay for any type of silver bullion anywhere. The silver spot price is essentially is the cost of an ounce of silver before being cast into bars, rounds or coins. Additional work adds additional costs and price premiums per product. Then, other additional supply-demand factors affect the overall cost.
The reason that the price of silver coins is higher than the price of silver per ounce is due to the additional quality, artistry, and effort that goes into minting coins. Bars and rounds are plain and cost less to manufacture. That gets reflected in the relative price of each silver product. There’s also the chance that some coins will have historical value. These are primarily older coins, not currently minted ones. Once a government stops minting coins, their value rises over time.
What are sovereign silver coins, and why are their prices different from the amount of silver per ounce?
You’ll find several nations that mint their silver coins today. Some good examples of these types of silver coins include the Mexican Silver Libertad, the Silver Krugerrand, the Australian Silver Kangaroo, and many others, as well. The reason these coins have different pricing than what you’ll find in a silver price chart for the price of silver per ounce is that they are 1) coins, not rounds and 2) they are minted as both legal tender and carry some collectible value. While they take only minimal numismatic value when first created, that value increases over time as they become rarer and harder to find on the market.
Is silver sold around the world at all times?
Yes, like gold, the silver spot price is used around the world for 24-hours per day trading.
The silver market closes only for 60 minutes per day on weekdays, from 5:00 PM EST to 6 PM EST. The COMEX mainly sets the price of silver per ounce, and other markets too (e.g., LBMA).
Although silver spot prices will usually be adjusted locally to show the local currency price per troy ounce, rather than the fiat US dollar price, silver price discovery mainly originates in fiat US dollars, as are many other investment options.
The following chart shows the east vs. west silver price bias , in which the silver price tends to go up overnight in Asian trading versus sideways and or down during western trading hours (LBMA fix AM and PM and New York trading hours on the COMEX).
The eastern silver price bias upwards remains empirically evident in the 21st Century. The following east vs. west silver price chart covers the full fiat currency era, from 1970 to 2020 silver market data using basic compounding arithmetic.
[ 2020 Q2 – Updated Quarterly ]
⬇ Brief EXPLANATION of WHAT this East vs. West Daily Compounding Silver Price Chart IMPLIES ⬇
When is best to sell some Silver?
Using the same east vs west chart above, except this one not in logarithmic format. We note some past timeframes when it would have been well-timed to sell some silver bullion positions for another asset class perhaps at the time.
When will the blue eastern and red silver spot price again converge?
What is the difference between an ounce and a troy ounce?
When you use a silver price chart to compare today’s silver price with the silver price history, what you’ll be seeing is the value of a single troy ounce of silver. A troy ounce is different from the standard ounce we use for weights and measurements. It’s slightly heavier (it equals 1.09711 standard ounces). Always ensure that the silver price chart you’re studying lists silver by the troy ounce and not by grams or any other measure.
Why is there such a difference between today’s silver prices and historical silver prices?
The price of silver continually changes, sometimes by the minute. However, it also goes through cyclical ups and downs. A few years ago, silver hit a historic high price. Since then, and coupled with the “recovery” of the global economy, the price of silver has come down quite a bit off it’s high. By understanding how silver prices per ounce vary over time, you can begin to predict future movements and make your silver price forecasts to inform your investing efforts.
How do I invest in silver for retirement while reducing my level of risk?
It’s important to understand that all forms of investing come with some element of risk. With that said, in our opinion, investing in precious metals carries less risk than playing the stock market, or investing in mutual funds, as well as most other options. To safeguard yourself and your financial future, you must do several things:
How does the Silver Price compare to other Precious Metal Price performances?
See in the following silver price chart below how silver prices have performed vs. other precious metal (PM) prices from 1970 to today measured in fiat US dollar per ounce prices.
[ 2020 Q2 – Updated Quarterly ]
Additional Questions and Answers about the Price of Silver
Silver is an excellent addition to your portfolio, but we understand that you can have many questions about this precious metal that must get answered before you decide to purchase. We strive to provide accurate information about the silver price, as well as providing access to the broadest range of silver options; including coins, rounds, and bars from mints around the world.
What should my decision be if I’m only interested in building up a stockpile of physical silver, and not concerned with collectability?
If your only goal is to invest in silver and to do it in a way that allows you to create a significant buffer against devaluation and disaster, the best path forward is to buy low premiums silver rounds or silver bars. The amount you purchase initially will hinge on how much capital you have to invest. Those with limited funds might decide to buy a few ounces at a time.
Those with more capital might consider buying larger bars with each purchase. However, those buying larger sized bars will ultimately see the lowest price per ounce of silver. The reason is it costs companies less to create larger bars than it does smaller ones. In a way, it’s a lot like buying in bulk. The more ounces you buy at once (in one bar), the lower the price will likely be. Note that this does not generally apply to buy multiple one-ounce silver bars. In so doing, you will still pay a higher price of silver per ounce than if you were to buy larger silver bars.
What gets included in the one-ounce ounce silver price?
The spot price of silver only includes the cost of that weight of metal without any refining or shaping. It does not involve putting it into the form of a round or bar, or the loss of turning the raw ore into a coin, complete with artwork. It also does not include the dealer premium applied to silver sales. With that getting said, it is still crucial that investors know not only the current spot price of silver but historical silver prices as well. Some dealers may include a higher markup than others on their products, and knowing the live silver prices helps you shop around better. Additionally, knowing historical silver prices lets you track and predict how the metal could perform. With this information, you’ll be able to make more informed decisions with your investing dollars, knowing when it is the optimal time to buy silver, sell silver, or hold your silver against market movements.
What taxes can get added to current silver prices?
Sales taxes are generally only added to purchases of silver if you live in a state where local sales tax applies — currently, not all states in the US tax precious metals. If you are buying silver online and live in a country that does require this, the sales tax will likely get added to your order at checkout. Note that fees on silver bullion purchases get generally based on your billing address, rather than your shipping address.
Why are so many silver coin prices much higher than the silver price per ounce?
Coins are very different from rounds and bars. Unlike silver rounds or silver bars, silver coins have an additional value that can make them more valuable than their weight of silver would dictate. For instance, a Silver Morgan Dollar from a scarce minting year that is in excellent condition would sell for much more than the price of silver. This factor can be shared because it is a rare collectible coin with considerable numismatic value. There are many other examples of this on the market as well. Even current silver coin prices have a higher premium applied to them due to their initial numismatic value. Collectible silver coins can be good options for investors interested in this path, but they can be much more costly than rounds and bars, so investors only interested in buying precious metals may wish to avoid them.
Why is the silver price higher if I pay with a credit card?
When dealers accept credit cards, they must pay fees to the credit card companies. These fees must get worked into the silver price for the silver industry to maintain profitability. This fact is true across the board, and with all credit card companies, although the fee amounts vary from one card company to another. When you pay with a check or a bank transfer, those fees do not apply, and the dealer can offer a lower silver bullion price overall. Paying with ACH or a check can allow you to save money on your silver bullion purchases. You may also want to consider paying with a money order or a cashier’s check, as these methods also do not incur a fee from the dealer. With that said, you will likely pay a fee for money orders and cashier’s checks from your bank. The amount will depend on where you purchase them.
Will the face value of a coin affect silver coin prices?
No. Silver coins minted by national governments carry some face value – $1 for instance. However, that price is only nominal, and no one would use a silver coin to pay for something in the everyday world, simply because their silver content makes them much, much more valuable than their face value. In addition to that, the face value gets not factored into the silver coin’s price. That value is based instead on the amount of silver in the currency, the coin’s condition, its rarity, and other factors that affect numismatic value. Note that this is not the case with rounds and bars, which are not typically not collectible, and do not have a face value, nor are they legal tender.
How much is the dealer’s premium added to the silver price per ounce?
All dealers apply a standard, the fixed amount over the spot price of silver products. For instance, it might be $1 over the spot, or something else. This amount gets charged per ounce in most cases, and it will change over time based on fluctuations in the market as well as the supply and demand for each product. Note that different products may have dissimilar premiums. For example, Silver American Eagle coins minted at the US Mint may have a different premium applied than a one-ounce silver round or a 10-ounce silver bar.
How do I make money selling silver if I buy for more than the silver price per ounce?
While it might sound complicated, it is possible to make money selling silver to dealers. This statement applies to 90% junk silver coins, as well as silver rounds, bars, and more. However, if you wanted to buy an ounce of silver and then re-sell it to a dealer within a short time, the chances are good that you would lose money on the investment. It cannot get overstated that the way to make money with precious metals is to buy and hold. Watch the current silver prices and compare them to historical silver prices. When the silver rate rises beyond what you paid (including the dealer markup), you can then sell for a profit. Silver buyers, gold buyers and other precious metals investors understand that the long-term trends in the price of silver make it a much wiser decision to buy and hold for the long term, rather than attempting to make a short-term profit like in the stock market.
How do I lock in the silver rate if silver prices change from minute to minute?
When you work with a reputable dealer, you’ll be able to lock in the offered price of silver for a limited time at the checkout page or over the phone. Note that this price will only get honored for a limited duration, and it will be specified. Doing so prevents the dealer from being over-exposed to daily market fluctuations. Once the time limit for the lock-in has gotten exceeded, the price will revert to the current prices of silver, if the price of silver has changed. We ensure that you have more than enough time to lock in the amount you want to pay. We also provide the most accurate, up to date pricing to keep you informed, as well as providing our customers with the ability to track historic silver prices and compare them to the silver price forecast.
Can I buy physical silver right now?
Yes, here at SD Bullion, you can buy physical silver bullion in a range of formats, including silver rounds, silver bars, and silver coins.
We automatically lock in your silver prices at the checkout page, and you’ll see it depicted on the screen. Note that when ordering online, the current silver price is only locked in for 3 minutes before it reverts and will reflect any changes to the price of an ounce of silver plus our premium.
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How the Price of Silver Fluctuates: What Sets the Price of Silver
Silver, gold and platinum are well-known precious metals. Physical silver is mostly traded in the London Bullion market where a bidding process sets the daily reference price called the fix. Silver paper contracts is mainly traded in the U.S. Commodity Exchange, Inc. (Comex), which is a futures and options exchange and also sets the spot prices. Silver can function as an investment, an industrial application, a financial hedge and a store of value. Due to the multiple uses of silver, the prices are determined by a large number of factors and players and are highly volatile. While silver prices are influenced by the fundamental demand and supply factors, large traders, investors and hedge funds can also move the prices.
Fundamental Supply and Demand for Silver
Fabrication demand, which includes industrial applications, jewelry, coins and photography, makes up about 85 percent of annual silver demand. Investment demand, government purchases and de-hedging make up the rest of silver demand. On the supply side, the production mines contribute 75 percent of the world supply of silver. In the last several years, the pace of increase in mine production has lagged the growth of fabrication demand, resulting in the rapid drawdown of existing stocks and a strengthening in silver prices. As silver is also a store of value, macro factors including economic growth, inflation, interest rates, currency depreciation and government debt levels will determine silver prices.
Large Traders and Investors Cornering and Shorting the Market
With a daily turnover of 18 times as big as silver, the gold market is much more liquid than the silver market. Global silver physical demand is also at about 11 percent of gold’s physical demand. In the 1970s, the Hunt brothers cornered the silver market and pushed the silver price to a high of $50.35. Investment houses including J.P. Morgan currently hold more than 90 percent of the silver’s short positions, making silver highly vulnerable to manipulation by one large trader or investor.
Like gold, silver can be used as a hedge against inflation, deflation or currency debasement. As major governments engage in stimulus measures to revive their economies, quantitative easing and deficit spending have led to currency devaluation and a fear of rising inflation, leading to a higher gold and silver demand.
Technical Factors Influencing Silver Prices
Silver prices are highly influenced not only by the strength of gold prices but also by the seasonality of gold. Silver supply is 18 times as plentiful as gold supply, so, theoretically, the price of silver should be one-eighteenth of the price of gold. At a current price of $1,582, gold prices trade at a ratio of about 54:1 to silver prices, making silver look relatively cheap. Given the much smaller liquidity in silver than gold, silver is likely to be a highly manipulated market, rendering technical analysis less useful in predicting silver prices.
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